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At first glance, leasing may appear the more favourable option.
He says leased electric vehicles often have reduced buyout prices because of low resale values.
If you buy the car then sell it to a friend, you’ll have to pay sales tax.
If your car has a collection of indiscretions — scrapes, dings or tears in the upholstery — you could be looking at penalties for excess wear and tear.
But if you buy the car, you won’t be charged for the damage or the disposition fee, and you can fix the bumps and bruises when, and if, you want, says Paul Maloney, owner of Car Leasing Concierge.
You aren’t charged sales tax and the dealer makes a few hundred dollars for moving paper.
But be aware: Your warm body without a car in a car dealership means that you’re probably in for a sales pitch.
Banks writing leases may be more likely to negotiate than automakers’ finance companies.
“It’s really just a case-by-case basis,” Jones says.
“Why pay two or three grand in mileage penalties and have nothing to show for it?
” says Matt Jones, a senior consumer advice editor at
Buying your leased car saves the leasing company shipping and auction fees.